Trends And Emotional Intelligence

Operators in Family Businesses should consider these 5 skills, Self-Awareness, Self-Control, Internal Motivation, Empathy and Social Skills. Trends are six points in a positive direction, or one on a negative direction. Family business owners, small business owners need to be aware that its their emotional intelligence that helps them lead; identify, assess, and control their own emotions, the emotions of others, and that of their groups.

The term “emotional intelligence” seems first to have appeared in a 1964 paper by Michael Beldoch and in the 1966 paper by B. Leuner entitled Emotional intelligence and emancipation which appeared in the psychotherapeutic journal: Practice of child psychology and child psychiatry.

In 1999, Brian Goleman published the 5 Steps of EI.

The Five Components of Emotional Intelligence

Self-awareness. The ability to recognize and understand personal moods and emotions and drives, as well as their effect on others. Hallmarks* of self-awareness include self-confidence, realistic self-assessment, and a self-deprecating sense of humor. Self-awareness depend on one’s ability to monitor one’s own emotion state and to correctly identify and name one’s emotions.

Self-regulation. The ability to control or redirect disruptive impulses and moods, and the propensity to suspend judgment and to think before acting. Hallmarks include trustworthiness and integrity; comfort with ambiguity; and openness to change.

Internal motivation. A passion to work for internal reasons that go beyond money and status -which are external rewards,- such as an inner vision of what is important in life, a joy in doing something, curiosity in learning, a flow that comes with being immersed in an activity. A propensity to pursue goals with energy and persistence. Hallmarks include a strong drive to achieve, optimism even in the face of failure, and organizational commitment.

Empathy. The ability to understand the emotional makeup of other people. A skill in treating people according to their emotional reactions. Hallmarks include expertise in building and retaining talent, cross-cultural sensitivity, and service to clients and customers. (In an educational context, empathy is often thought to include, or lead to, sympathy, which implies concern, or care or a wish to soften negative emotions or experiences in others.) See also Mirror Neurons.
It is important to note that empathy does not necessarily imply compassion. Empathy can be ‘used’ for compassionate or cruel behavior. Serial killers who marry and kill many partners in a row tend to have great emphatic skills!

Social skills. Proficiency in managing relationships and building networks, and an ability to find common ground and build rapport. Hallmarks of social skills include effectiveness in leading change, persuasiveness, and expertise building and leading teams.

Operators in Family Businesses should consider these 5 skills, Self-Awareness, Self-Control, Internal Motivation, Empathy and Social Skills. In a 2013 article Goleman wrote,

“And we have seen over and over that employees generally leave a company for one of two reasons:

1. Their immediate manager, or
2. The lack of opportunity to develop and grow.

As Family business owners we need to consider Trends, the 5 keys to emotional intelligence and why people leave companies.

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HRB & Associates is a strategic consulting firm focusing on Family Owned, Privately Held, Small to Mid-cap firms. Our clients come to us for a variety of reasons:• They are frustrated with their Teams ability to produce year over year profitability.• They are concerned with their ability to manage talent and succession plan.• They are fed-up with year over year cost increases.

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